Retail Properties of America Inc (NYSE:RPAI) – Investment analysts at Boenning Scattergood upped their Q2 2019 earnings per share estimates for shares of Retail Properties of America in a research note issued on Thursday, according to Zacks Investment Research. Boenning Scattergood analyst F. Van. Dijkum now anticipates that the real estate investment trust will post earnings per share of $0.27 for the quarter, up from their previous estimate of $0.26. Boenning Scattergood has a “Buy” rating and a $19.00 price objective on the stock. Boenning Scattergood also issued estimates for Retail Properties of America’s Q3 2019 earnings at $0.28 EPS, Q4 2019 earnings at $0.27 EPS and FY2019 earnings at $1.08 EPS.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut Retail Properties of America from a “hold” rating to a “sell” rating in a research report on Thursday, February 15th. KeyCorp raised Retail Properties of America from a “sector weight” rating to an “overweight” rating and set a $16.00 price target on the stock in a research report on Monday, November 20th. ValuEngine cut Retail Properties of America from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. raised Retail Properties of America from a “neutral” rating to an “overweight” rating and set a $15.00 price objective on the stock in a report on Friday, December 15th. Finally, Jefferies Group set a $14.00 price objective on Retail Properties of America and gave the stock a “hold” rating in a report on Tuesday, February 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $15.79.
Shares of Retail Properties of America (NYSE:RPAI) traded up $0.04 during midday trading on Friday, hitting $11.92. The stock had a trading volume of 2,570,497 shares, compared to its average volume of 2,251,300. Retail Properties of America has a 1 year low of $10.94 and a 1 year high of $14.81. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $2,606.77, a PE ratio of 11.21 and a beta of 0.31.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Tuesday, March 27th will be issued a dividend of $0.1656 per share. The ex-dividend date of this dividend is Monday, March 26th. This represents a $0.66 dividend on an annualized basis and a yield of 5.56%. Retail Properties of America’s dividend payout ratio (DPR) is 63.46%.
Retail Properties of America declared that its Board of Directors has authorized a share repurchase program on Thursday, December 14th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
A number of institutional investors and hedge funds have recently modified their holdings of RPAI. Millennium Management LLC lifted its holdings in Retail Properties of America by 91.2% during the 4th quarter. Millennium Management LLC now owns 3,421,897 shares of the real estate investment trust’s stock worth $45,990,000 after purchasing an additional 1,632,224 shares in the last quarter. Renaissance Technologies LLC increased its stake in Retail Properties of America by 39.4% in the 4th quarter. Renaissance Technologies LLC now owns 5,154,055 shares of the real estate investment trust’s stock worth $69,270,000 after acquiring an additional 1,455,955 shares during the last quarter. Two Sigma Investments LP bought a new position in Retail Properties of America in the 4th quarter worth about $19,373,000. American Century Companies Inc. bought a new position in Retail Properties of America in the 4th quarter worth about $18,630,000. Finally, Zimmer Partners LP bought a new position in Retail Properties of America in the 4th quarter worth about $17,808,000. 81.22% of the stock is currently owned by institutional investors and hedge funds.
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Retail Properties of America Company Profile
Retail Properties of America, Inc is a real estate investment trust (REIT). The Company owns and operates shopping centers located in the United States. As of December 31, 2016, it owned 156 retail operating properties representing 25,832,000 square feet of gross leasable area (GLA). Its retail operating portfolio includes neighborhood and community centers, power centers, and lifestyle centers and multi-tenant retail-focused mixed-use properties, as well as single-user retail properties.
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